MIS reports 29% profit slump to SAR 45.5 mln in 9M 2021

25/10/2021 Argaam Exclusive

View other reports

Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 45.5 million for the first nine months of 2021, falling 29% from SAR 63.8 million in year-earlier period.

This profit slump was driven by the revenue recognition in subsequent periods, as some purchase orders have long project cycle, in addition to the new project awards, which will be realized in subsequent periods.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	782.36	463.56	(40.7 %)
Gross Income	130.95	109.44	(16.4 %)
Operating Income	75.87	53.56	(29.4 %)
Net Income	63.84	37.66	(41.0 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	2.13	1.26	(41.0 %)

Q3 2021 net profit after Zakat and tax dropped 15% year-on-year (YoY) to SAR 19.1 million, on higher selling and marketing expenses, and general and administrative expenses (G&As).

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	234.81	171.97	(26.8 %)
Gross Income	44.63	42.19	(5.5 %)
Operating Income	27.08	20.59	(24.0 %)
Net Income	22.50	14.83	(34.1 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.75	0.49	(34.1 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	148.16	171.97	16.1 %
Gross Income	34.85	42.19	21.1 %
Operating Income	17.98	20.59	14.5 %
Net Income	13.53	14.83	9.6 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.45	0.49	9.6 %

On a sequential basis, Q3 2021 net profit surged 82.6%.

Total shareholders equity (after deducting minority equity) grew 8.8% YoY to SAR 307.29 million in the nine-month period.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×